TIDMCAT

RNS Number : 4940S

CATCo Reinsurance Opps Fund Ltd

11 March 2019

11 March 2019

CATCo Reinsurance Opportunities Fund Ltd.

(the "Company")

Partial Waiver of Management Fee in respect of Side Pocket Investments

The Board of the Company is pleased to announce its decision to consent to a waiver of 33.3334% (one-third) of the management fee it indirectly pays to Markel CATCo Investment Management Ltd. ("MCIM") in respect of side pocket investments. The reduction resulting from the waiver will have effect from 1 January 2019 until 31 December 2019, but is subject to extension by MCIM and the Markel CATCo Diversified Fund ("Master Fund").

The management fee is payable to MCIM, in its capacity as investment manager of the Master Fund, through which the Company holds its investments. The Company is exposed to side pocket investments by way of its holding of certain classes of share in the Master Fund ("Side Pocket Shares").

James Keyes, Chairman of the Company, commented: "The fee reduction is welcome news for the Company, given the significant proportion of the Company's NAV represented by side pocket investments".

This announcement contains Inside Information as defined under the Market Abuse Regulation (EU) No. 569/2014.

Enquiries:

 
 Markel CATCo Investment Management Ltd. 
 
  Judith Wynne, General Counsel 
  Mobile: +44 (0) 7986 205364 
  Telephone: +1 (441) 493 9005 
  Email: judith.wynne@markelcatco.com 
 
  Mark Way, Chief of Investor Marketing 
  Mobile: +1 (441) 504 9178 
  Telephone: +1 (441) 493 9001 
  Email: mark.way@markelcatco.com 
 
   Numis Securities Limited 
   David Benda / Hugh Jonathan / Harry Trueman 
   Telephone: +44 (0) 20 7260 1000

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

STRGGUWAWUPBGCG

(END) Dow Jones Newswires

March 11, 2019 11:30 ET (15:30 GMT)

Catco Reinsurance Opport... (LSE:CAT)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Catco Reinsurance Opport... Charts.
Catco Reinsurance Opport... (LSE:CAT)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Catco Reinsurance Opport... Charts.